In the last eight years, Fannie Mae and Freddie Mac have guaranteed at least half of all new mortgage originations. In a report released on Thursday by the Urban Institute (UI), authors Laurie Goodman, director of Housing Finance Policy Center at UI and Karan Kaul, a research associate at UI determined that the two GSEs play an important, indisputable part in the U.S. mortgage market, but also pose a huge risk to taxpayers.
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